How do different monetary policy tools influence residential housing markets, and how do these effects vary between owner-occupied and rental segments? To answer this question, we assemble a new monthly regional dataset from 35 million real estate listings over the period 2007- 2023 and exploit...

Hidden “junk” fees have the potential to distort competition, creating high costs to consumers. However, regulating them can lead to adverse effects, especially in complex markets with intermediaries where they are most prevalent. To explore the equilibrium adjustments of regulating hidden...

In this paper we assess the implications of monetary policy shocks on the house price to rent ratio in the case of the Irish property market. Crucially, in light of the particular circumstances of the market, we allow for the interaction between monetary policy and changing credit conditions in...

Housing markets are affected by a large variety of factors. Among them, governmental regulations play an important role. Besides desired effects, all these policies exert a number of side effects, some of which can even offset the desired effects. In addition, different policies can cancel out...

We build a model of the aggregate housing and rental markets in which house prices and rents are determined endogenously. Households can choose their housing tenure status (renters, homeowners, or landlords) and the size of their homes depending on their age, income and wealth. We use our model...

The FDZ Ruhr at RWI provides price indices for apartments and houses (rentals and sales) in Germany starting in 2008. The price indices are based on the real estate dataset RWI-GEO-RED, which combines real estate listings from ImmoScout24. We perform three types of hedonic regressions to allow...

The FDZ Ruhr provides a dataset on real estate advertisements in Germany from 2007 onwards. The data are based on information from the internet platform ImmobilienScout24 and covers both apartments and houses for sale and for rent. The data are available for scientific research only. The...

Housing rents are one of the most important and difficult elements of spatial cost of living comparisons. Difficulties arise from the lack of sufficiently detailed and harmonized data, especially at the international level. The emergence of Airbnb has created a valuable new source of...

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions - generated by idiosyncratic tastes and local ties - dominate trade frictions -...

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions-generated by idiosyncratic tastes and local ties-dominate trade frictions- generated by...

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions—generated by idiosyncratic tastes and local ties—dominate trade...

Based on 92,600 rental contracts in the Swiss real estate market, we study how a property's CO2 emissions affect net rental values. We use a novel measure of operational carbon emissions that relies on various parameters related to the sustainability and energy efficiency of a building as well...

We study the effects of rental price changes on college enrollment rates. We exploit cross-district variation in the size and timing of local rental price booms in Germany during the 2010s. A one standard deviation increase in apartment rents decreased per-capita college enrollment by 1.1...

Der vorliegende IW-Wohnindex untersucht die Entwicklung der Kauf- und Mietpreise für Wohnimmobilien in Deutschland. Der Kurzreport erscheint zukünftig vierteljährig. Auf der Basis von mehreren Millionen Wohnimmobilieninseraten werden Ergebnisse eines hedonischen Preisindex veröffentlicht,...

Der vorliegende IW-Wohnindex untersucht die Entwicklung der Kauf- und Mietpreise für Wohnimmobilien in Deutschland. Der Kurzreport erscheint vierteljährig. Auf der Basis von mehreren Millionen Wohnimmobilieninseraten werden Ergebnisse eines hedonischen Preisindex veröffentlicht, nähere...

Much of the land economics literature has largely ignored the spatial nature of competition and related differences between farmland rental and sales markets. In this note we propose a model for price formation in both markets under a spatial competition framework. We demonstrate that price...

The FDZ Ruhr provides a dataset on real estate advertisements in Germany from 2007 onwards. The data are based on information from the internet platform ImmobilienScout24 and covers both apartments and houses for sale and for rent. The data are available for scientific research only. The...

The FDZ Ruhr provides two campus files on real estate advertisements in Germany: the Panel Campus File (RWI-GEO-RED Panel) and a Cross-Sectional Campus File (RWI-GEO-RED Cross-Section). The datasets are extractions of the Scientific Use Files of RWI-GEO-RED. The Panel File covers the 15 largest...

The FDZ Ruhr at RWI provides price indices for apartments and houses (rentals and sales) in Germany starting in 2008. The price indices are based on the real estate dataset RWI-GEO-RED, which combines real estate listings from ImmoScout24. We perform three types of hedonic regressions to allow...

Rental housing affordability, a growing topic in interdisciplinary scholarship, remains relatively peripheral to geography and regional science. This article focuses on geographies of rent burden and factors affecting it at the metropolitan level in the conterminous U.S. By conducting...

Der vorliegende IW-Wohnindex untersucht die Entwicklung der Kauf- und Mietpreise für Wohnimmobilien in Deutschland. Der Kurzreport erscheint vierteljährig. Auf der Basis von mehreren Millionen Wohnimmobilieninseraten werden Ergebnisse eines hedonischen Preisindex veröffentlicht. Nähere...

Urban areas confront a chronic shortage of housing, especially in the low-rent segment. This precarious situation is further exacerbated by major challenges, like the destruction of housing by wars and natural catastrophes, rapid increase of demand, or pandemics cutting incomes. In response, the...

This paper asks whether, and under which circumstances, rent subsidies to low-income households increase rents. We utilize a reform in Finland that caused large quasi-random variation in housing allowances. We find that large increases in allowances for affected housing units had little or no...

The gap between market rent and the price of shelter was 6.6 percent larger in December 2023 relative to December 2019. Because shelter prices comprise 36 percent of the Consumer Price Index and therefore influence monetary policy decisions, it is vital to understand the pass-through of this...